Tips on Buying Cars: New car tips, chevy aveo, totota

Question
Hi Jeff,

I'm planning for a new family car with the budget of 10,000 to 20,000. I'm very confused on which car i can go for. I have a consideration of sedan cars like Nissan Versa, Chevy Aveo, Totota Corolla, Honda Civic. Which car would you recommend on an expert point of view.

The other things to consider are, I may leave US in about 4-5 years. So i also look for resale value. Also i prefer cheap car which is good for a family of three.

I would really appreciate your expert advice.


Thanks,
Velu

Answer
Stay away from the Aveo, along with anything made by Suzuki or Mitsubishi.  These are low-rated cars according to Consumer Reports, and tend to have poor resale values.  The Civic and Corolla are always safe bets:  well-designed, reliable, great resale value.  The Versa is a new model and is a bit of an unknown at this point as far as reliability and resale value are concerned, but could be a good buy.  If you look for a used Versa, keep in mind that Nissan is advertising a brand-new one right now for just under $10,000, so be careful what you pay.  Whatever you go with, seriously consider a 1-2 year-old model with low miles and a warranty.  The greatest depreciation occurs in the first two years with ANY car, so you could avoid that depreciation yourself, save a lot of money upfront AND when you go to sell in 4-5 years.  Buying brand-new would definitely be more expensive unless you kept the car for at least 8-10 years.